Virtu Financial LLC Buys New Stake in Nordic American Tankers Limited (NYSE:NAT)

Virtu Financial LLC purchased a new position in shares of Nordic American Tankers Limited (NYSE:NAT) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 124,608 shares of the shipping company’s stock, valued at approximately $312,000. Virtu Financial LLC owned 0.06% of Nordic American Tankers as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Victory Capital Management Inc. boosted its stake in shares of Nordic American Tankers by 135.1% in the third quarter. Victory Capital Management Inc. now owns 58,309 shares of the shipping company’s stock worth $214,000 after buying an additional 33,507 shares during the last quarter. Intech Investment Management LLC acquired a new position in Nordic American Tankers in the third quarter valued at approximately $237,000. Charles Schwab Investment Management Inc. boosted its position in Nordic American Tankers by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 489,382 shares of the shipping company’s stock worth $1,796,000 after purchasing an additional 7,382 shares in the last quarter. Raymond James Trust N.A. acquired a new stake in shares of Nordic American Tankers during the 3rd quarter worth approximately $37,000. Finally, Quantbot Technologies LP increased its holdings in shares of Nordic American Tankers by 198.9% during the 3rd quarter. Quantbot Technologies LP now owns 207,008 shares of the shipping company’s stock valued at $760,000 after purchasing an additional 137,745 shares in the last quarter. 44.29% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on NAT. StockNews.com downgraded shares of Nordic American Tankers from a “hold” rating to a “sell” rating in a report on Monday. Jefferies Financial Group reissued a “hold” rating and set a $3.00 target price on shares of Nordic American Tankers in a research note on Friday, February 28th.

Nordic American Tankers Trading Down 1.0 %

Shares of NYSE:NAT opened at $2.54 on Friday. The business’s 50 day moving average price is $2.62 and its 200-day moving average price is $2.95. Nordic American Tankers Limited has a 1 year low of $2.39 and a 1 year high of $4.40. The firm has a market capitalization of $529.30 million, a price-to-earnings ratio of 8.74 and a beta of -0.33. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.73 and a quick ratio of 0.56.

Nordic American Tankers (NYSE:NAT) last posted its quarterly earnings data on Wednesday, March 5th. The shipping company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.02). Nordic American Tankers had a net margin of 26.41% and a return on equity of 11.95%. The company had revenue of $46.39 million for the quarter, compared to analysts’ expectations of $51.38 million. On average, equities research analysts forecast that Nordic American Tankers Limited will post 0.24 earnings per share for the current fiscal year.

Nordic American Tankers Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 10th were given a dividend of $0.06 per share. The ex-dividend date was Monday, March 10th. This represents a $0.24 dividend on an annualized basis and a yield of 9.47%. Nordic American Tankers’s payout ratio is presently 109.09%.

Nordic American Tankers Profile

Nordic American Tankers Limited, a tanker company, acquires and charters double-hull tankers in Bermuda and internationally. It operates a fleet of 20 Suezmax crude oil tankers. The company was incorporated in 1995 and is headquartered in Hamilton, Bermuda.